Refracted EMA

2022년 8월 1일

Refracted EMA is a price based indicator with bands that is built on moving average.
The price range between the bands directly depends on relationship of Average True Range to Moving Average. This gives us very valuable variable constant that changes with the market moves.
So the bands expand and contract due to changes in volatility of the market, which makes this tool very flexible exposing psychological levels.

2022년 8월 3일

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Small change in formula to increase graphic representation of Volatility

2022년 8월 6일

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Added more bands

2022년 8월 17일

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High Low levels
TF based Support and Resistance

2022년 8월 17일

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Removed unnecessary lines

2022년 8월 17일

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Increased responsiveness of bands

2022년 10월 23일

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UPD: Main EMA colors denote the direction of the trend

2022년 10월 27일

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UPD:
⚠️ Now the indicator is based exceptionally on Buying & Selling Pressure instead of ATR.
This means that when price goes up the buying pressure determines the width of the upper "hot color" channels, whereas selling pressure set the width of lower "cold color" channels on decline.[/b
Added bool. Color of Original EMA also depends on Buying and Selling Pressure and price change.

2022년 10월 28일

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Fixed default settings upon update.

2022년 11월 1일

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Added VWAP based bar colors which plays a role of another layer of visualized confirmation.

2022년 11월 4일

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UPDATE: Eliminated VWAP and changed design.

2022년 11월 4일

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Redesign of BG Trending colors. Fast MA carries a signal that colors bars. It should be at least twice less than inputs of Base EMA. I usually use same values of BSP and Base EMA.
If you want to use higher values, say 360 for BASE EMA and BSP, then you must increase proportionally the input of Fast EMA and and set Factor accordingly.
If you have no idea what's BSP, please go to my scrips and find "Buying & Selling Pressure" or just add it to the chart.

2022년 12월 6일

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Had to remove Bar Coloring. It's a crime against trading.
Added extended lines of the bands and highlights of Buying and Selling Pressure relationship. They can also create intersections which determine levels of market conditions.
Added historic Traces within our system.

2022년 12월 6일

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Highlights Color grouped.

2022년 12월 6일

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Altered conditions of firing the highlights

2023년 1월 28일

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LT version update:
Fixed once for all background highlight signals by incorporating NET BSP.
Now we have signals based on change of NET BSP and EMA. 2 confirming trend different instruments.

2023년 2월 10일

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• Fixing my silly mistake on wicks. (facepalm)
  
• incorporated ST based on BSP.
  

2023년 4월 7일

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Added no wick mode. Where certain wicks depending on whether we're dealing with Buying or Selling Pressure.
In this mode bands shrink and expand faster in correlation to trend condition.
When we're at uptrend cold color zones shrink faster while hot color zones expand according to candle metrics.

2023년 4월 13일

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In this update I added a switch to the following visual tools inside FREMA:

Zones: (Horizontal areas filled):

Highlights: (Vertical timing of trades):

Traces (Tracks price movements inside different zones separately):

2023년 7월 19일

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• Changed default formula of bands
  
• Rearranged user inputs
  

2023년 9월 3일

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Update:

• Ability to alter the averaging of buying/selling pressure and their factors separately
  
• Assigning custom ranges enables targeting certain trend conditions
  

Default for both:
Averaging: 10
Factor: 3
I do not suggest changing the average BP & SP. Let them be 10.
However, by setting the factor of BP lower than of SP will force the trade to close at higher levels. It is suitable when strategy is Open Long/Close Long oriented.

2024년 4월 19일

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1. Now we have second source of signals + alerts "FR" (shorter term signals relative to ST)
   
2. Bands are extra smoothed even in geometric mode
   

2024년 5월 11일

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Added:
Bool "Invert BSP"
Assigns inverted Buying and Selling Pressure for SuperTrend bands. When enabled it closes positions faster.


Bool "Dynamic Factor"
Example: For non-inverted BSP, the bullish band of SuperTrend will have values of (BPMA X BPMA / SPMA). When inverted - SPMA*SPMA/BPMA.
Extra multiplication with that ratio gives the supertrend band an adjustment to the existing proportion of Buying and Selling Pressure of the market.

Use Dynamic Factor with default inputs of (10; 3) for each 1 raws.

When both "Invert BSP" and "Dynamic factor" are enabled:

Position Entry and Position Close are timed with the proportions of Candle Metrics.
Both are off in default mode

2024년 6월 19일

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Minor but important updates in FR dispay

2024년 6월 23일

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• Added ability to choose the type of MA of the Base
  

2024년 7월 1일

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Introducing new changes:

• Deleted Geometric FREMA bands. There is no need amplifying the volatility bands with candle ratios.
  
• Added output of SuperTrend Bands
  
• FR and SuperTrend are inversely tied together. ST downtrend activates bullish FR entries and vice versa. FR signals play role of close ST short/long.
  
• Ability to swap volatility sources of each band separately by checking ⇅ (Invert). Default (when unchecked): Uptrend band powered by Buying Pressure ; Downtrend band - with Selling Pressure. Example of use: Say we want to make uptrend band more sensitive so it can close faster. Other than reducing averaging or factor, we can check ⇅ so uptrend band will be spaced with Selling Pressure. As trend grows the SP reduces accordingly making the space shrink right on time to close the longs higher.
• ATR^2 / Selling Pressure (when Invert checked / Buying Pressure) ATR^2 / Buying Pressure (when Invert checked / Selling Pressure). Example: Filters out big drops when enabled on downtrend band.
• FR is just like SuperTrend - runs on volatility and triggers signals but has only one band to reflect uptrend and downtrend condition of the market. Apart from squaring and swapping, the only numerical user input to alter FR sensitivity is Averaging. Whereas ST bands can be adjusted also by factor. Multiple FR signals of same direction can be used for dollar cost averaging to divide the risk.
  

2024년 7월 8일

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Cleaned up the code for a better performance and design:

• Replaced individual FREMA range coloring with a gradient.
• Colors of FR signals are assigned by FREMA band color.
  
• Added ability to boost the FR sensitivity to ultimate.
• Changed squaring method for SuperTrend bands.
  Uptrend Band (green): Buying Pressure squared divided by Higher Wicks
  Downtrend Band (red): Selling Pressure squared divided by Lower Wicks
  It's more efficient than using ATR in previous version. It uses less lines of code yet gives bigger gaps in the beginning of trends which doesn't allow the market noise to violate with false signals.
  While on uptrend we want the big distance of band gap to still respond to a rise in counter force - higher wicks (part of selling pressure). As a result that distance will shrink. And vice versa for downtrend.
  

2024년 7월 31일

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Simplified overall user experience by correcting some formulas and reducing number of user inputs

• Smoothed FREMA Bands with Gaussian Filter
  
• Linked up ST trend change with FR
  
• SuperTrend no longer has multiplier as it is replaced with dynamic one. (Determined by relationship of ATR to certain bar fragments)
  

2월 17일

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After thoroughly reviewing the code, I’ve removed useless components which slowed down the indicator’s primary function. It was designed to be a strong alternative to most volatility channels out there. Now the code reflects its original purpose. I will avoid doing such unnecessary buildups in the future. Apologies for any confusion!

8월 13일

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• Eliminated unnecessary components slowing down the system.
  
• Adapted design for a better experience handling the mean reversion.